http://retheauditors.com/2007/11/09/just-as-i-was-starting-to-feel-less-nauseous/ The Business of the Big 4 Audit Firms Wed, 08 Feb 2012 21:24:11 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://retheauditors.com/2007/11/09/just-as-i-was-starting-to-feel-less-nauseous/comment-page-1/#comment-157250 re: The Auditors » Blog Archive » The FEI CFRI Conference…And More Tue, 22 Nov 2011 05:09:16 +0000 http://76.12.174.187/?p=506#comment-157250 [...] chuckled at my cheeky question at CFRI. My follow-up to Herz and Finnegan asked about the previous bundling by the Big 4 of support for  IFRS adoption with Congressional approval of liability caps. You don’t hear that anymore, but it was recurring theme especially right after the Treasury [...] [...] chuckled at my cheeky question at CFRI. My follow-up to Herz and Finnegan asked about the previous bundling by the Big 4 of support for  IFRS adoption with Congressional approval of liability caps. You don’t hear that anymore, but it was recurring theme especially right after the Treasury [...]

]]> http://retheauditors.com/2007/11/09/just-as-i-was-starting-to-feel-less-nauseous/comment-page-1/#comment-134833 re: The Auditors » Blog Archive » New York Court of Appeals Stands By Corporate Man: In Pari Delicto Prevails Fri, 22 Oct 2010 15:15:52 +0000 http://76.12.174.187/?p=506#comment-134833 [...] The last time I heard this one – that auditors should not be held accountable to investors for their “judgment” – it was positioned as a necessity in the event the US adopted IFRS. [...] [...] The last time I heard this one – that auditors should not be held accountable to investors for their “judgment” – it was positioned as a necessity in the event the US adopted IFRS. [...]

]]> http://retheauditors.com/2007/11/09/just-as-i-was-starting-to-feel-less-nauseous/comment-page-1/#comment-133717 re: The Auditors » Blog Archive » Systemic Risk! Dominance! Momentum! Auditors In Crisis. Again. Fri, 15 Oct 2010 20:54:19 +0000 http://76.12.174.187/?p=506#comment-133717 [...] The last time I heard this one – that auditors should not be held accountable to investors for their “judgment” – it was positioned as a necessity in the event the US adopted IFRS. [...] [...] The last time I heard this one – that auditors should not be held accountable to investors for their “judgment” – it was positioned as a necessity in the event the US adopted IFRS. [...]

]]> http://retheauditors.com/2007/11/09/just-as-i-was-starting-to-feel-less-nauseous/comment-page-1/#comment-84304 re: The Auditors » Blog Archive » WSJ Swallows Big 4 Public Relations Tue, 26 Jan 2010 18:12:32 +0000 http://76.12.174.187/?p=506#comment-84304 [...] restatements is so much due to the fact that the auditors are getting tougher. After all, they are still asking to be able to use their judgement finally instead of just ticking the boxes. They want auditor liability caps before they start using any [...] [...] restatements is so much due to the fact that the auditors are getting tougher. After all, they are still asking to be able to use their judgement finally instead of just ticking the boxes. They want auditor liability caps before they start using any [...]

]]> http://retheauditors.com/2007/11/09/just-as-i-was-starting-to-feel-less-nauseous/comment-page-1/#comment-81709 re: The Auditors » Blog Archive » The GAO Report and Stoneridge – My Audacious Hope Tue, 19 Jan 2010 05:18:35 +0000 http://76.12.174.187/?p=506#comment-81709 [...] PCAOB is taking only small bites out of the firms, as they lack the teeth to be a true watchdog. Who is competent, objective, independent, and non-self-serving enough, with sufficient credibility and [...] [...] PCAOB is taking only small bites out of the firms, as they lack the teeth to be a true watchdog. Who is competent, objective, independent, and non-self-serving enough, with sufficient credibility and [...]

]]> http://retheauditors.com/2007/11/09/just-as-i-was-starting-to-feel-less-nauseous/comment-page-1/#comment-3667 re: The Auditors » Blog Archive » What I’d Do: Part 2 - First Focus on the Client Mon, 13 Apr 2009 20:19:20 +0000 http://76.12.174.187/?p=506#comment-3667 [...] How that message has been diluted! Just listen to the leadership of the Big 4.  [...] [...] How that message has been diluted! Just listen to the leadership of the Big 4.  [...]

]]> http://retheauditors.com/2007/11/09/just-as-i-was-starting-to-feel-less-nauseous/comment-page-1/#comment-127 Independent Accountant Sat, 10 Nov 2007 07:15:00 +0000 http://76.12.174.187/?p=506#comment-127 An audit is by definition whatever it is a Big Four firm does. Don't you know that? This is an old story. Does anyone remember the 1976 Senate report, "The Accounting Establishment"? 1760 pages of criticism, virtually all of which is still relevent. What we need is to reverse the 1995 Litigation Reform Act. The damn rating agencies want first amendment protection for their "opinions", the Big Four want to be an unaccountable monopoly. Who needs these guys? An audit is by definition whatever it is a Big Four firm does. Don’t you know that? This is an old story. Does anyone remember the 1976 Senate report, “The Accounting Establishment”? 1760 pages of criticism, virtually all of which is still relevent. What we need is to reverse the 1995 Litigation Reform Act. The damn rating agencies want first amendment protection for their “opinions”, the Big Four want to be an unaccountable monopoly. Who needs these guys?

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